Over-the-counter Drugs - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Over-the-counter Drugs market is accounted for $125.00 billion in 2018 and is expected to reach $237.66 billion by 2027 growing at a CAGR of 7.4% during the forecast period. While the factors like the inclination of pharmaceutical companies toward OTC drugs from RX drugs and favorable regulatory framework are the factors fueling the growth of the market. However, lack of awareness in the rural area is restraining the market growth.
Over-the-counter drugs, also known as non-prescription drugs, refer to medicines that can be bought without a prescription. These drugs are safe and effective when a consumer follows the directions on the label or as provided by a physician. Over-the-counter (OTC) drugs are primarily used to treat conditions that do not require direct consultation of a doctor. OTC drugs are safe and well-tolerated. These provide affordable treatment and also help to decrease the workload of physicians. The OTC drugs help to build a diverse product portfolio for the health care business of pharmaceutical companies also it helps to extend product range for consumer brands of consumer goods companies.
Based on type, weight loss/dietary products segment is likely to have a huge demand in the forecast period due to the rising awareness of the general population about health and rise in the consumption of junk food, which is leading to the rise in lifestyle-related diseases. By geography, North America is estimated to have a huge demand owing to the leading trend among pharmaceutical companies to switch from Rx to OTC drugs.
Some of the key players in Over-the-counter Drugs Market include GlaxoSmithKline PLC, Emami Limited, Abbott Laboratories, Dabur India Limited, Procter & Gamble, Reckitt Benckiser, Sun Pharmaceuticals Limited, Cipla Inc, Company, Alkem Laboratories Limited, Teva Pharmaceutical Industries Ltd, Sanofi, Boehringer Ingelheim, Novartis, and Pfizer.
Mode of Intake Covered:
• Weight Loss/Dietary Products
• Gastrointestinal Products
• Cold, Cough and Flu Products
• Mineral and Vitamin Supplements
• Skin Products
• Ophthalmic Products
• Sleeping Aids
• Dermatology Products
End Users Covered:
• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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